The origin of the European Energy Programme for Recovery (EEPR) is the global €200 billion European Economic Recovery Plan presented by the Commission on 26 November 2008. Investment in energy projects was considered an important tool to support the economic recovery.
On 9 December 2009, the European Commission announced details of the six carbon capture and storage (CCS) projects which will receive funding (€1 billion in total) under the EEPR. The six projects are:
European Economic Recovery Plan (EERP)
The Plan focuses on containing the impact of the economic crisis: protecting jobs and purchasing power, boosting infrastructure and creating jobs in the low carbon sectors of the future. It sets out how Member States and the European Union could coordinate their policies in order to provide new stimulus to the European economy and increase Union spending in strategic sectors. The Plan was endorsed by the European Council in December 2008 where the Commission was invited to present a list of concrete energy projects.